Inside Park, which intends to debut on the NewConnect market, recorded PLN 14.85m in consolidated revenues in 2023, compared to PLN 3.5m a year earlier, the company said. Net profit amounted to PLN 0.7 million compared to PLN 0.98 million net profit in 2022.
The reduction in the profitability of the net result was mainly due to the expansion of the business into the construction of retail parks. Inside Park operates on a secure model of financing investments from the capital of their buyers, from its own funds and from trusted business partners. At the same time, the company has a low debt-to-equity ratio of 78%. The group’s total capital debt ratio is 57%, the company stated.
“The financial results reflect the expansion of Inside Park’s business profile. From 2023 onwards, due to market needs, we are developing a second leg of the business. Customers who have bought flats from us expect more. Their assets have grown, so their investment appetites have too. Besides, the commercial property market is also a response to the expectations of a post-pandemic society. The increasing number of retail parks is a result of this. By building retail parks, we are meeting investors’ expectations,” said CEO Tomasz Laskowski.
The most important projects completed by the companies of the Inside Park group in 2023 include the sale of tenement properties at ul: Poznańska 101, Mickiewicza 124, Podmurna 85 – 89 in Toruń and at Chojnicka 17 in Starogard Gdański. Crucial from the perspective of the development of the new business branch was the sale of the Biedronka shop, built by the company in fifteen weeks in the municipality of Łubianka near Toruń. This was Inside Park’s first investment in a commercial property, Inside Park stressed.
As of 2024, the company has a portfolio of 30 units for sale, with 1,440 sqm of space to be purchased after a signed preliminary agreement. In addition, the company is looking at 150 townhouse properties. According to the plans, a total of 3,500 sqm of space should be able to be purchased in 2024.
“In the perspective of a few years, we want to reach the construction of 1 retail facility per quarter, I mean retail parks and stand-alone buildings. We plan to expand all over Poland, this is the natural direction of development, but we are taking a very responsible approach because of cost discipline. First we want to increase revenue, and then we want to develop our staff in numbers and make further investments,” Laskowski concluded.
Toruń-based company Inside Park is involved in the revitalisation of townhouses. The company’s main shareholders are Alicja and Tomasz Laskowski, who plan to eventually transfer their shares to an established family foundation.
Source: Inside Park and ISBnews
